May 11, 2018 / 1:31 AM / 5 months ago

U.S. fund Elliott seeks $670 million from South Korea over 2015 Samsung merger

SEOUL (Reuters) - U.S. activist fund Elliott is seeking compensation from the South Korean government of no less than $670 million for damages it sustained from a 2015 merger between Samsung affiliates, according to a letter from the fund’s representative.

FILE PHOTO: "Quantum Dot" SUHD televisions are displayed at the Samsung Electronics booth during the 2016 CES trade show in Las Vegas, Nevada January 7, 2016. REUTERS/Steve Marcus/File Photo

The letter seen by Reuters and dated April 13 argued Elliott sustained loss and damage as an investor in one of the companies that merged.

Elliott began a legal dispute with South Korea over the merger earlier this year but had not previously revealed the amount of compensation sought.

Reporting by Joyce Lee and Ju-min Park; Editing by Stephen Coates

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